Yukon Workers’ Compensation Health and Safety Board maintains strong funded position and works towards modernizing foundation
For release
WHITEHORSE: At the request of the Honourable Jeanie Dendys, Minister responsible for the Yukon Workers’ Compensation Health and Safety Board (YWCHSB), the organization’s 2019 annual report is now publicly available. The report highlights YWCHSB’s strong funded position, the strides taken towards modernizing its governing legislation and explores a range of other activities the organization undertook throughout the year.
The funded position at the end of 2019 was 141 percent, up from 132 percent in 2018. This increase was largely due to strong returns on the YWCHSB’s investment portfolio. The strong funded position will help reduce future assessment rate volatility and help cushion impacts on the rates that employers pay in the future.
“Our continued cautious and prudent financial approach has resulted in this strong funded position,” said Mark Pike, Chair of YWCHSB’s Board of Directors. “As a result, we are well-positioned to navigate the COVID-19 pandemic. We are able to provide financial relief for those businesses who need it with no risk to those injured workers and their families who depend on the Compensation Fund now and into the future.”
“Our government cares deeply for the health and safety of all Yukoners, both physically and psychologically, and is confident the Board of Directors will guide the organization through these uncertain and challenging times,” said Minister Dendys. “We commend the Board on its prudent management of the Compensation Fund in the best interests of workers and employers.”
On behalf of the Government of Yukon, YWCHSB completed a public engagement on the modernization of the Workers’ Compensation Act and the Occupational Health and Safety Act. The engagement explored how to strengthen workplace safety and make the workers’ compensation and health and safety systems more transparent, easier to participate in and more accountable. The public engagement included open houses throughout the Yukon, online surveys, written submissions and the participation of an external advisory group made up of governments, agencies, associations and other groups that represented the broad interests of workers and employers.
Also on behalf of the Government of Yukon, YWCHSB completed a public engagement focused on a proposed regulation to help employers ensure workplaces are free from violence and harassment—two serious health and safety concerns to which no Yukon worker or employer should be exposed.
“As we work to modernize our legislation that will create safer, healthier workplaces for all, input from the public is invaluable,” said Kurt Dieckmann, President/CEO of YWCHSB. “2019 saw great momentum in terms of connecting and learning from Yukoners.”
YWCHSB’s 2019 annual report is available at wcb.yk.ca/annualreport2019.